Business

Anger, confusion and apprehension are pervading the top hierarchy of the Nigeria Customs Service after a long-scheduled promotion examination for the next generation of top management personnel was abruptly cancelled after all the 1,164 officers were already gathered at the Abuja headquarters of the Joint Admissions and Matriculation Board (JAMB) at 7 o clock this Monday morning. Officers from the …

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BudgIT said its attention has been drawn to activities on the advocacy group handle due to the serial tweets of @ToluOgunlesi on a graphic as regards a daily annual average of PMS supply. BudgIT said a few weeks ago, it published a report indicating the jump in NNPC’s PMS supply from an average of 24.1m litres/day in 2015 to 52.7m …

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The Debt Management Office (DMO) has explained that the federal government opted for Eurobond issuance in its foreign borrowings, instead of cheaper concessional loans from external development institutions, because it needs to access limitless funds. Speaking in an interview with THISDAY, the Director General, DMO, Ms. Patience Oniha, explained that although concessional loans were cheaper, there was a limited amount …

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Wema Bank Plc, Nigeria’s oldest indigenous bank and pioneer of Africa’s first fully digital bank (ALAT), has announced a 70 percent growth in Profit Before Tax (PBT), from N1.80 billion in third quarter 2017 to N3.07 billion in third quarter ended September 30, 2018. Profit after Tax (PAT) rose by 72.55 percent to N2.64 billion in third quarter 2018 from …

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Heritage Bank Plc., Nigeria’s Most Innovative Banking Service provider, yet again has been adjudged the “Most Supportive Bank of the Year,” barely two weeks it grossed home three awards for its outstanding performance. The current award was conferred on Heritage Bank at the fourth edition of Green October Event 2018, an event organized by Alamode Magazine. Only recently, Heritage Bank …

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The Securities and Exchange Commission, SEC has said that a more organized Commodities Exchange Market in the country would enhance  efficiency and lead to economic growth and development. The Ag. Director General of the SEC Ms. Mary Uduk started this when she received members of the Commodities Trading Ecosystem Implementation Committee in her office in Abuja, weekend. Uduk said the …

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In spite of the claims by the All Progressives Congress (APC) that its primary elections conducted in Lagos State was devoid of irregularities and favoritism, a video in the public domain has proved to the contrary. The APC in Lagos State, in conjunction with the National Working Committee (NWC) and the Independent National Electoral Commission (INEC), on October 2 and …

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Olabode Adaramola The Management of Abuja Electricity Distribution Plc (AEDC) has said that the fire incident that led to the death of a mother and her three children in a residence in Bosso Local Government Area of Niger State, was as a result of fire outbreak caused by a boiling ring and not electrical surge as reported in a section …

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Zenith Bank Plc, on Wednesday October 17, 2018, reported that its Gross Earnings fell from N531 billion in 2017 to N474 billion for the third quarter ended September 30, 2018. This amounts to a 10.7 percent decline year on year. According to the third quarter unaudited financial statement, profit before tax increased from N152 billion in 2017 to N167 billion …

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Tayo Olanipekun With Agency Reports A Nigerian business man has been crowned champion of the first Africa edition of the Scaling Up Nutrition Pitch Competition held at the Nutrition Africa Investor Forum in Nairobi, Kenya. Kennie-O Cold Chain Logistics from Kwara State won the competition involving some of the continent’s most exciting enterprises working to improve access to nutritious foods. …

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